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Opinion

Editorial

Fri, August 12, 2022 | 18:06

EU's carbon legislation

Last month, the European Parliament passed a package of carbon legislations, which expanded the scope of targets for the Emissions Trading System (ETS) and drastically strengthened the Carbon Border Adjustment Mechanism (CBAM) on imported goods. The move has effectively made the carbon border tax a fait accompli, which could deal a heavy blow to Korean exporters.

2022-07-12 16:23

Turning further to right

Japanese Prime Minister Fumio Kishida vowed to take steps to revise Japan's postwar pacifist constitution, elated by his ruling Liberal Democratic Party's (LDP) sweeping victory in Sunday's upper house election. “I will focus efforts on putting together that can be discussed in parliament,” he said when asked about the constitutional revision.

2022-07-11 17:00

Income tax reform

The new administration of President Yoon Suk-yeol is considering reforming the nation's income tax framework across the board for the first time in 15 years. The move comes in response to some complaints that wage earners have been bearing heavier tax burdens, as income tax rates have remained unchanged amid soaring inflation.

2022-07-11 16:56

Shocking death of Abe

The assassination of former Japanese Prime Minister Shinzo Abe has sent shock waves through not only Japan but also the entire world. It is a clear reminder that any form of violence cannot and should not be tolerated under any circumstances as it poses a grave threat to democracy.

2022-07-10 17:06

Resurgence of COVID-19

The government has officially confirmed that COVID-19 has shifted to an expansionary phase. “The warning lights of resurgent COVID-19 are now on, one after another,” Vice Health and Welfare Minister Lee Ki-il said Friday. He made it clear that the pandemic has returned to an upward trend.

2022-07-10 16:55

Ruling party in turmoil

The ruling People Power Party (PPP) has been thrown into turmoil after its ethnics committee decided to suspend the party membership of Chairman Lee Jun-seok for six months, Friday, over his attempt to cover up sexual bribery allegations. The decision is expected to deepen the party's internal conflicts over how to fill the leadership vacuum.

2022-07-08 19:47

Tell nothing but truth

The National Intelligence Service (NIS) on Wednesday filed a complaint with the prosecution against two of its former chiefs over suspicions that they mishandled two separate incidents involving North Korea. The move is drawing keen attention as it offers an opportunity for the law enforcement agency to get to the bottom of the incidents.

2022-07-07 17:09

Lower lending rates further

Korea's large commercial banks are reducing their lending rates. Woori Bank and NH Bank began to apply lower mortgage loan rates this month by increasing prime rate beneficiaries. A few days earlier, Shinhan Bank moved to reduce the current mortgage rate to 5 percent per annum.

2022-07-07 16:40

Inflation spiral

Consumer prices soared 6 percent year-on-year in June, hitting the highest level in almost 24 years, according to Statistics Korea. The prices have continued to climb, particularly since soaring 5.4 percent in May, heightening fears of stagflation, a phenomenon of simultaneous economic stagnation and higher inflation.

2022-07-06 17:03

Advances of basic studies

June Huh, a Korean-American mathematician who teaches at Princeton University, has been named a recipient of this year's Fields Medal, becoming the first scholar of Korean descent to win the highest honor in mathematics.

2022-07-06 16:55

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